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MIRA
INFORM REPORT
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Report Date : |
09.05.2008 |
IDENTIFICATION
DETAILS
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Name : |
KINETIC ARTWORK (HK) LTD |
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Registered Office : |
RM 902, 9FL Chinachem Tower, 34-37 Connaught Rd Central |
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Country : |
Hong Kong |
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Date of Incorporation : |
13.02.2004 |
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Com. Reg. No.: |
0882370 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Wholesale distribution of variety of jewelry products. |
RATING &
COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average. |
Small |
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Maximum Credit Limit : |
USD 2,000 |
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Status : |
Small Company |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
Name & address
KINETIC ARTWORK
(HK) LTD.
RM 902, 9FL CHINACHEM TOWER
34-37 CONNAUGHT RD CENTRAL, HONG KONG
TEL: 852-25491073
FAX: 852-25491629
EXECUTIVE SUMMARY
INCORPORATION DATE :
FEBRUARY 13, 2004
REGISTRATION NO. :
0882370
LEGAL FORM :
PRIVATE
CHIEF EXECUTIVE :
MR. P. SADARANGANI (DIRECTOR)
STAFF STRENGTH :
3
CAPITAL :
US$ 1,285
BUSINESS LINE :
TRADER
TURNOVER :
N/A (AS OF DEC. 31, 2006)
EQUITIES :
N/A (AS OF DEC. 31, 2006)
PAYMENT :
FAIR
RECOMM. CREDIT RANGE :
UP TO USD 2,000
MARKET CONDITION :
AVERAGE
FINANCIAL CONDITION :
N/A
OPERATIONAL TREND :
FAIRLY STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
HKD 7.79397= US$1
Adopted
abbreviations
ANS - amount not stated
NS - not stated
SC - subject company (the company inquired by you)
NA - not available
M - million
HKD –Hong Kong Dollars
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*Company Registration*
==================
(1)
License number : 0882370
Date issued : 13
February, 2004
Issuing authority : Companies
Registry
Type of license : Corporate
(2)
License number : 34526987-000
Date issued : N/A
Issuing authority : Business
Registration Office - Inland Revenue Dept
Type of license :
Business
*Capital Details*
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Authorized capital : HKD 10,000.00
Paid-up capital : HKD 2.00
divided into 2 shares at HKD 1.00/-each
*Reputation*
==========
Reference checking for the purpose of establishing the firm's reputation
within the respective industry failed to reveal any negative information.
*Approved Signatures*
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Only Mr. Prakash Rupchand Gumnani can sign on behalf of the company with
seal affixed.
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SC is not known to host website of its own at present.
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For the past two years there is no record of litigation.
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*Major Shareholders*
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Total number of shareholders: 2
Total number of shares: 2
Shareholders Country Number Amount (HKD) %
------------------ ---------- ------------ --------------- ------
Mr. Payal Prakash Gumnani India 1.00 1.00 50.00
Mr. Prakash Rupchand Gumnani India 1.00 1.00 50.00
*Corporate Secretary*
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KL SECRETARIES LTD
C.R. number : 822669
Address : Rm 902, 9Fl
ChinaChem Tower 34-37 Connaught Rd, Central Hong Kong
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*COMPANY DIRECTORS*
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1
Name : Mr. P. Sadarangani
Nationality : Hong Kong
2
Name : Mr. Payal Prakash Gumnani
Nationality : India
ID/Passport No. : Z1113788
Registered Address : 34-A Empire Estate Bldg Kemps Cnr
Country of Residence : India
3
Name : Mr. Prakash Rupchand Gumnani
Nationality : India
ID/Passport No. : Z008597
Registered Address : 34-A Empire Estate Bldg Kemps Cnr
Country of Residence : India
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*Main Products & Services*
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Specializes in the following areas of work:
1. Wholesale distribution of variety of jewelry products.
2. Sales and distribution of products to local and international
market.
Products: Diamond
Diamond
jewelry
Fine jewelry
Jewelry
Precious
jewelry
*Payment Terms*
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Sales
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Local : Cash or credit
Export : Letter of Credit (L/C)
Telegraphic
Transfer (T/T)
Purchases
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Local : Cash or credit
*Local Distribution Network*
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Part of the annual turnover is attributed to local sales.
*Export Markets*
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Part of the annual turnover is attributed to export.
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SC is not known to have any subsidiary at
present.
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PAYMENT RATING : 4 OBTAINED SCORES :
48
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Implication |
Implications |
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1 |
Scores 85–100 |
Excellent |
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2 |
Scores 75 – 84 |
Above Average |
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3 |
Scores 50 – 74 |
Average |
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4 |
Scores 35 – 49 |
Fair |
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5 |
Scores 15 – 34 |
Below Average |
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6 |
Scores 01 – 14 |
Poor |
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NR |
No Data |
No Data |
The rating indicates the
payment pattern of SC based upon our Payment Database, comments from suppliers
of SC, information from banks (if available), as well as industrial sources.
Dealings on open terms may be possible for SMALL amounts
depending on individual judgement experience.
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As a privately-owned company there is no legal requirement according to
local corporate law for public disclosure of detailed financial.
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SC is considered small-sized in its line with a short history. Taking
into consideration of SC’s general performance, a credit line up to USD 2,000
appears to be within SC’s capacities.
Attached:
trade references
SIC PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Trading 3911 Jewelry, of
precious metal
Trading 3961 Jewelry of
materials other than solid gold, platinum & silver
Trading 5094 Jewelry/Watches/Precious
Mtl
HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Trading 7102 Diamonds,
worked or not, not mounted or set
Trading 7113 Articles
of jewelry & parts, of precious metal or clad
Trading 7116 Articles
of natural or cut pearls, prec/semprc stones
Trading 7116201000 Jewelry
of precious or semiprecious stones
Trading 7116204050 Articles
of precious or semiprecious stones, not jewelry
DETAILED PRODUCT
CLASSIFICATION & ACTIVITY
Activity Product/Service Description
Trader Diamond
jewelry
INTERNATIONAL TRADE
: ACTIVITY & MARKETS
Exporting to Asia
Exporting to Europe
Exporting to North America
RATING
EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
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56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average. |
Small |
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11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)